We're in the middle of streaming wars and another soldier joins the battle on April 6th. Quibi, the brainchild of Jeffery Katzenberg, is a new way to capitalize on accessibility and original content.
But if you ask Katzenberg, he' not entering the war.
He's forging a new frontier...
“We don’t think we’re in the streaming wars,” Katzenberg told The Verge. “They’re all battling for this,” he says as he thrusts his arm toward a TV in the room. “We’re going for this,” he says, gesturing toward his phone. “Don’t tell them!”
In the last two years, Quibi has raised around $2 billion to make original content.
Tubefilter spoke with Quibi CEO Meg Whitman and CFO Ambereen Toubassy of Quibi. Whitman said, “We found significant interest from long-term investors in the financial, distribution, and content arenas who were excited to participate in this round.” Toubassy added that the additional funding “gives us tremendous flexibility and the financial wherewithal to build content and technology that consumers embrace.”
Still, even with all the money and directors like Spielberg flocking to the platform, not many people know about Quibi or how it works.
So, we did some research and want to fill you in on the newest way to watch TV, this time directly on your phones.
What is Quibi and How Will it Work?
Quibi is a short-form mobile video platform founded by Jeffrey Katzenberg. Every episode will be 10 minutes or less. This short-form content is specifically designed to be viewed on the phone or iPad. When you rotate your phone to widescreen or full screen, it will unlock different parts of the story.
When Does Quibi Launch?
The service is set to launch on April 6, 2020.
What oes Quibi cost?
Quibi (some ads): $4.99/mo.
Quibi (no ads): $7.99/mo.
Those are low prices, but will anyone pay them?
Katenberg hopes so, but he's realistic about it. In speaking with The Verge, Katzenberg broke down the challenges, "We’re competing against free...We have to offer something that is meaningfully, measurably, quantifiably, creatively different."
So, what do you need in order to take on the YouTubes of the world?
Star power.
Katenberg continued, “They don’t know how to do what we do, with all due respect.”
What's on Quibi?
Right now, Quibi is focused on content that will play on your phone and iPad. No word yet on whether or not they'll have their shows available on AppleTV or Roku, but I would expect they also have platforms there. Still, they want to conquer your phones first...
“In Hollywood, people measure on opening weekend,” Whitman says. “This is a marathon, not a sprint. We’ll be interested to see how many subscribers we get on day one, but that is not the full measure.”
But the names they're using for this coup are the ones you're used to seeing in theaters.
Steven Spielberg, Zac Efron, Idris Elba, Kristen Bell, Chrissy Teigen, Guillermo Del Toro, Reese Witherspoon, Justin Bieber, Kendall Jenner, Tyra Banks, Steph Curry, Kevin Hart, 50 Cent, and Anthony and Joe Russo all have original Quibi series in the works.
As Quibi puts it, "With drama, comedy, docs, news, and sports, Quibi brings you new content that is quick enough for daily commutes, lunch breaks, or lines at the coffee shop. Check your personalized feed to see what’s new, discover trending episodes, or search for shows based on your mood."
You can view all the shows currently on Quibi here.
